Six of America's fastest-growing suburbs with home values under $500,000 are located in the South.

Six of America's fastest-growing suburbs with home values under $500,000 are located in the South.
Six of America's fastest-growing suburbs with home values under $500,000 are located in the South.

The report by GOBankingRates states that the fastest-growing suburb in the U.S. is located in North Carolina and not near major cities like New York, Miami, or Los Angeles.

Six regions from the South dominated the top 10 list, with Mooresville, North Carolina taking the top spot. Florida and Arizona also had two cities each on the list, as per GOBankingRates.

In 2024, Mooresville's home value was $480,430 and its population increased by 29.94% during the 2020-2022 period.

The 10 fastest-growing U.S. suburbs with home values under $500,000

  1. Mooresville, N.C.
  2. Hamtramck, Mich.
  3. Buckeye, Ariz.
  4. Union City, Ga.
  5. Canyon Lake, Texas
  6. Olive Branch, Miss.
  7. Maricopa, Ariz.
  8. Clermont, Fla.
  9. Leesburg, Fla.
  10. Goodyear, Ariz.

The No. 2 fastest-growing U.S. suburb is Hamtramck, Michigan.

Hamtramck, located five miles north of downtown Detroit, offers a convenient location for those seeking to work in the city and enjoy a quieter lifestyle in the suburbs. According to the 2020 Census, Hamtramck's population is 28,433, with a median household income of $39,648 and an employment rate of 40.5%.

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by Celia Fernandez

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